University Bancorp, Inc. to Acquire Currency Exchange International, Corp. Shares

TORONTO, ON / ACCESS Newswire / June 20, 2025 – University Bancorp, Inc. (OTCQB:UNIB), a Michigan-based financial holding company, today announced a strategic investment in Currency Exchange International, Corp. (“CXI”). The move, executed through the facilities of both the Toronto Stock Exchange and the OTC Markets Stock Exchange, signals a focused approach to its investment portfolio.

Specifically, UNIB acquired 6,438 common shares of CXI on the Toronto Stock Exchange at an average price of C$19.55 per share, totaling C$125,863. Further bolstering its position, the firm also acquired 23,300 common shares of CXI through the OTC Markets Stock Exchange (OTCQX:CURN) at an average price of $14.25 per share, for a total purchase price of US$332,996, including commissions. This dual-pronged approach underscores UNIB’s commitment to its CXI holdings.

These transactions collectively increase UNIB’s stake in CXI by approximately 0.48%. Following the acquisitions, UNIB, alongside any potential joint actors, now controls or directs a total of 751,448 common shares, representing approximately 12.02% of the total outstanding common shares of CXI.

Prior to these most recent acquisitions, UNIB held approximately 11.54% of CXI’s outstanding shares, demonstrating a gradual but deliberate build-up of its position.

Regulatory Matters
In accordance with regulatory requirements, UNIB will file an early warning report with the appropriate authorities. Further details regarding these transactions will be accessible via the SEDAR+ platform.

UNIB has stated that its holdings in CXI are for investment purposes. The company will continue to assess the investment’s performance and future prospects, and may consider a variety of strategic options within the bounds of applicable regulations, including potentially scaling its position up or down, engaging in hedging transactions, or maintaining its existing holdings. This ongoing strategic review also includes the possibility of communication with CXI’s management or board of directors.

However, the company also cautioned that there is no assurance that it will take these actions, and these intentions remain subject to various economic and market factors. Market watchers will be keeping an eye on how this play unfolds.

For detailed financial and regulatory information, the public can consult the SEDAR+ platform, or contact Stephen Lange Ranzini, President & CEO of UNIB. Further information can be found on the University Bank website.

When UNIB announced its 2024 financial results, the company reported, among other things:

• Revenue grew 18.65% in 2024, compared to a 10-year average growth rate of 18.70%;

• Return on Equity (ROE) for 2024 was 12.5%, against a 10-year average ROE of 25.97%;

• Shareholders’ equity at University Bank reached a new high, exceeding $100 million;

• Shareholders’ equity at UNIB at 12/31/2024 was $93,590,773 (excluding minority interest of $11,961,541), or $18.10 per share, based on common shares outstanding at December 31, 2024 of 5,169,518.

Those interested in learning more are encouraged to review the firm’s investor relations materials.

Ann Arbor-based University Bancorp is a Federal Reserve regulated financial holding company that owns:

• 100% of University Bank, a bank based in Ann Arbor, Michigan;

• 100% of Crescent Assurance, PCC, a captive insurance company licensed in Washington DC;

• 100% of Hyrex Servicing, a master mortgage servicing firm, based in Ann Arbor, Michigan.

University Bank together with its Michigan-based subsidiaries, manages over $36 billion in financial assets for over 183,000 customers. The firm, with its 528 employees, ranks as the 5th largest bank in Michigan.

University Bank, established in 1890, is recognized as one of Michigan’s oldest banking institutions and has earned accolades.

CAUTIONARY STATEMENT: This press release contains certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements concerning future growth in assets, pre-tax income and net income, budgeted income levels, the sustainability of past results, mortgage origination levels and margins, valuations, and other expectations and/or goals. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting our operations, markets, products, services, interest rates and fees for services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We undertake no obligation to update any information or forward-looking statement.

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SOURCE: University Bancorp, Inc.

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